Is the fact that my conveyancer in West Hendon is not on my lender's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the West Hendon conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
Due to complete my purchase in West Hendon next Friday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not unique to conveyancing in West Hendon.
It is 10 years ago since I purchased my home in West Hendon. Conveyancing solicitors have now been appointed on the sale but I am unable to locate the title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by the lender or they could be in the possession of the lawyers who acted in the purchase. Secondly in most cases the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Almost all conveyancing in West Hendon involves registered property but in the unlikely event that your property is unregistered it is more tricky but is resolvable.
My friend recommended that if I am purchasing in West Hendon I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard West Hendon conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about West Hendon around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, West Hendon Education with plans and statistics, Local Amenities and other useful data concerning West Hendon.
I am looking for a ground for flat up to £195,000 and identified one close by in West Hendon I like with a park and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in West Hendon for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in West Hendon. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in West Hendon are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in West Hendon in which case you should be shopping around for a West Hendon conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.
I am the registered owner of a ground-floor 1960’s flat in West Hendon. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a West Hendon conveyancing firm who can help.
An example of a Lease Extension decision for a West Hendon property is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case related to 1 flat. The unexpired term was 71 years.